Olaplex’s (OLPX) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research note published on Wednesday morning, Benzinga reports. Telsey Advisory Group currently has a $2.00 price objective on the stock.

Olaplex Stock Performance

NASDAQ OLPX opened at $1.93 on Wednesday. The company has a current ratio of 10.71, a quick ratio of 9.12 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.57 and a beta of 2.42. The stock has a 50-day moving average of $1.73 and a 200 day moving average of $1.80. Olaplex has a twelve month low of $1.19 and a twelve month high of $3.66.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, May 2nd. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $98.90 million during the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The company’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Sell-side analysts anticipate that Olaplex will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Olaplex by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock worth $18,796,000 after acquiring an additional 787,242 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Olaplex in the 4th quarter valued at $3,996,000. Oak Thistle LLC increased its stake in Olaplex by 219.7% during the fourth quarter. Oak Thistle LLC now owns 40,649 shares of the company’s stock worth $103,000 after purchasing an additional 27,935 shares during the period. Bleakley Financial Group LLC acquired a new stake in Olaplex during the 4th quarter worth approximately $46,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Olaplex by 119,729.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock valued at $855,000 after purchasing an additional 336,441 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Company Profile

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.